The 15 largest banks in the US

The 15 largest banks in the United States (US) have a combined total of $13.4 trillion in assets as of September 30, 2022.

From time to time there are changes in this exclusive club. The biggest banks trade places with each other and smaller banks drop out, replaced by faster-growing rivals. Mergers and acquisitions could also play a role in this.

Here are the largest banks in the US by consolidated assets, according to the latest figures from the Federal Reserve.

1.JPMorgan Chase

Chase Bank is the consumer banking division of JPMorgan Chase. Unlike some of its competitors that are closing branches, Chase is expanding its branch network in key markets. It currently has about 5,000 branches and 16,000 ATMs. Nearly half of the nation’s households are Chase customers, according to Chase.

Read the Chase Bank Bankrate review.

Assets: 3.31 trillion dollars

Campus: NY

2. Bank of America

Bank of America serves approximately 67 million consumer and small business customers around the world. Like many of the larger banks, it offers robust digital tools including a versatile mobile app. Bank of America recently said it was eliminating its non-sufficient funds (NSF) fee and reducing its overdraft fee, following an industry trend.

Read the Bank of America Bankrate review.

Assets: 2.41 trillion dollars

Campus: Charlotte, North Carolina

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3.Citigroup

Citigroup is a global financial services corporation. Its retail banking division, Citibank, is headquartered in Sioux Falls, South Dakota. Citibank has about 700 branches in the US and more than 1,800 branches abroad. US customers can also access more than 65,000 ATMs free of charge.

Read Citibank’s Bankrate review.

Assets: 1.71 trillion dollars

Campus: NY

4. Wells Fargo

Wells Fargo was founded in 1852. Although the bank has focused on consolidating and eliminating branches, it still has the largest number of branches of any bank in the country. In addition to its main app, Wells Fargo has introduced a savings app and a mobile banking app aimed at millennials. The bank has rebranded and is focusing on mending its fractured relationship with customers after a series of missteps.

Read the Wells Fargo Bankrate review.

Assets: 1.71 trillion dollars

Campus: San Francisco

5. US Bank

US Bancorp is the bank holding company and parent company of US Bank. What we know as the fifth largest commercial bank by assets began in 1863 as the First National Bank of Cincinnati. Multiple mergers led to the formation of the bank known today for its extensive branch network and investment in improving its digital offerings.

Read the US Bank Bankrate review.

Assets: $591.21 billion

Campus: Minneapolis

6. PNC Financial Services

PNC was founded as the Pittsburgh Trust and Savings Co. in 1852. That transaction nearly doubled the size of the bank. Today, the bank has nearly 2,600 branches in 28 states and Washington, D.C.

PNC agreed to acquire BBVA USA for $11.6 billion in November 2020 and the deal closed on June 1.

Read the PNC Bank Bankrate review.

Assets: $553.40 billion

Campus: Pittsburgh

7. Financial Trustee

Truist is the bank formed by the merger of equals of BB&T and SunTrust. Truist provides financial services to some 10 million consumer households. BB&T and SunTrust, which were ranked the 11th and 12th largest banks by assets, respectively, as of September 30, 2019, now make up the sixth largest bank.

Read the Truist Bank Bankrate review.

Assets: $534.19 billion

Campus: Charlotte, North Carolina

8.Goldman Sachs

Goldman Sachs is a global investment banking, management and securities firm. Its clients have access to a variety of financial services, including banking products through Marcus, its online banking division that debuted in the fall of 2016 and began offering personal loans.

Read the review of Marcus Bankrate by Goldman Sachs.

Assets: $513.91 billion

Campus: NY

9. TD Group US Holdings

TD Bank is the US commercial banking arm of Canada’s TD Bank Group. Customers have access to mortgages, deposit accounts, credit cards, and products for commercial and small business customers. The bank has some 1,300 branches along the East Coast.

Read the TD Bank Bankrate review.

Assets: $394.33 billion

Campus:Cherry Hill, New Jersey

10. Capital One Financial

Capital One is a Fortune 500 company with subsidiaries including Capital One Bank. In addition to branches on the East Coast and in Texas and Louisiana, bank customers in select cities have access to Capital One Cafes, coffee shops with free Wi-Fi where visitors can open accounts and attend financial workshops.

Read Bankrate’s review of Capital One and its online banking products.

Assets: $391.81 billion

Campus: McLean, Virginia

11. Bank of New York Mellon

When the New York Stock Exchange opened in 1792, the Bank of New York was the first company to trade. Today, Bank of New York Mellon is an investment company serving a variety of corporations and institutions, as well as individual investors. Private banking services are available to its wealthy clients.

Assets: $344.65 billion

Campus: NY

12. State Street

Founded in 1792, State Street Corp. is a financial services and asset management company with approximately 40,000 employees and a global presence in more than 100 markets. Services include investment research and trading and investment management. Its clients include asset owners, insurance companies and pension funds, among others.

Assets: $300.01 billion

Campus:boston

13. Financial Citizens

Citizens has more than 1,000 branches in 12 states and Washington, DC

Customers also have access to more than 3,000 ATMs. It is headquartered in Providence, Rhode Island.

In February 2022, Citizens Financial closed the deal to acquire HSBC branches. The acquisition included HSBC online accounts.

Read the Citizens Bank Bankrate review.

Assets: $224.48 billion

Campus: Providence, Rhode Island

14. Bank of Silicon Valley

Silicon Valley Bank has been around since 1983. Silicon Valley Bank closed the deal to acquire Boston Private in 2021. Silicon Valley Bank has business checking accounts and business loan products.

Assets: $210.24 billion

Campus: Santa Clara, Calif.

15. Bank of the First Republic

First Republic has about 88 locations across the US. The bank is known for its wealth management services.

Read First Republic Bank’s Bankrate review.

Assets: 205.11 billion

Campus: San Francisco